2.0 Ventures announced on Tuesday it has acquired a majority stake in U.S. athleisure brand Feat Clothing.
Financial terms of the deal were not disclosed.

Co-founded by Taylor Offer in 2014, Los Angeles-based Feat Clothing, which makes apparel basics including hoodies and T-shirts, has grown considerably since its inception, with its last funding round in March 2022 valuing the company at $75 million.

With the new ownership, Offer will transition from his role as founder/CEO to a position on the board of directors. 

“I am excited for long walks with my dog on the beach, only using my flip phone, and finally ordering guac on my Chipotle burrito,” saidOffer, who reportedly held approximately 80% ownership of Feat Clothing through his holding company at the time of the transaction.

According to a press release, Feat’s core ethos, product offerings, distribution channels, and dedicated team will remain unchanged, “ensuring continuity and consistency for its valued customers and stakeholders.”

The acquisition also serves as the latest investment from 2.0 Ventures, a Salt Lake City-based private equity company dedicated to investing in high-potential businesses across various industries.